Economy

Thursday, December 17th 2020 - 09:59 UTC
Trump administration designated Switzerland and Vietnam as currency manipulators; China in monitoring list

U.S. Treasury Department designated Switzerland and Vietnam as currency manipulators for the first time, while keeping China on a watch list, in the Trump administration’s final foreign-exchange policy report.
Thursday, December 17th 2020 - 09:52 UTC
Argentina's GDP contracted 10,2% in the third quarter, Indec

Argentina’s gross domestic product contracted 10.2% in the third quarter of 2020 versus the same 2019 period, the government’s Indec statistics agency said on Wednesday, amid uncertainty about a possible retightening of COVID-19 lockdown measures.
Thursday, December 17th 2020 - 09:40 UTC
Argentine oil seed crushing workers strike continues; 130 ships waiting to load

Argentine oilseed workers are expected to continue the strike actions that are currently hitting activity at most of the country’s crushing capacity until at least next week after last-ditch salary talks with the sector’s chambers failed, Daniel Yofra, the secretary-general of crushers’ union FTCIOD has told Agricensus.
Wednesday, December 16th 2020 - 08:40 UTC
UK and Mexico sign trade deal: savings of £59 million worth of duties

The UK signed on Tuesday 15 December a trade deal with Mexico, locking in tariff-free trade and other benefits for British businesses and consumers. The UK-Mexico Trade Continuity Agreement will particularly benefit the automotive, pharmaceutical, textiles, agriculture, food and drink industries and other manufacturing industries, the sectors where the UK has the highest amount of trade with Mexico.
Wednesday, December 16th 2020 - 08:30 UTC
China pledges more trade and development cooperation with Chile on the 50th anniversary of diplomatic relations

China is willing to provide a broader market and more development opportunities for Chile and other countries as it seeks reform and opening-up at a higher level, President Xi Jinping said on Tuesday in a phone conversation with his Chilean counterpart, Sebastian Piñera.
Tuesday, December 15th 2020 - 18:04 UTC
Brazil risks losing its vote in UN if it doesn't pay US$ 113 million of its debt

Brazil once again risks losing its vote at the United Nations if it doesn’t pay a portion of what it owes to the global organization, which is facing a growing cash crunch as the Covid-19 crisis puts pressure on budgets worldwide.
Tuesday, December 15th 2020 - 15:03 UTC
Lack of confidence, Argentine government main challenge in its first year

Argentina's current government has had a wild ride in its first year of government: a sovereign default, huge debt restructurings together with sliding reserves, a currency crisis, a weak economy battered by COVID-19, and massive money printing.
Tuesday, December 15th 2020 - 09:55 UTC
Distrust of Bolsonaro is holding up the EU/Mercosur trade deal, says EU ambassador in Brasilia

Distrust in Europe of Brazilian President Jair Bolsonaro's government is holding up ratification of a trade deal between the European Union and Mercosur, the EU ambassador to Brasilia said.
Tuesday, December 15th 2020 - 09:08 UTC
WTO fails to agree rules on over-fishing; billions of dollars spent subsidizing fishing fleets

World Trade Organization negotiators have failed to reach a deal by a year-end deadline to cut the subsidies that have helped decimate the world’s fish stocks, but will try again next year, the chairman of the talks said on Monday.
Tuesday, December 15th 2020 - 09:02 UTC
Machu Picchu closed again for security reasons and protests from local villages

The Inca citadel of Machu Picchu, the crown jewel of Peru's tourist sites, closed its doors Monday for an indefinite period for security reasons amid protests by locals over train services, officials said.